Issue 31.09
Last month, my son and his wife decided to buy their first car. They asked if I could come along and help out. After looking around a few used car dealerships, they found a nice little car that suited their purposes perfectly. After being told that the car was in great shape and haggling over a price, we took the car for a test drive over to an auto shop, where we got a second opinion about its true value. The mechanic agreed that the car was in good condition.
After returning the car to the dealership, my son and his wife decided that they wanted to take some time to think about it. They looked at other cars elsewhere and ultimately decided that that first dealership car fit their needs best.
The reason I tell you this story is this. The economy is changing drastically. The market is dropping and the taxes are rising. Your financial plan, which may have been working perfectly up until now, may not be enough protection against the economy’s future changes. Have you taken the opportunity to have an advisor look over your financial situation and possibly adjust your plan? Are you going to outlive your income?
Going back to cars, when your oil is low a warning light comes on. If you want your car to last longer, you get your oil changed. You don’t keep driving around, thinking that the change in your car is just a phase and it will pass. The news about our economy is your oil light. It’s time to have someone look over your financial situation again.
Sometimes, you’ll need an overhaul of your current financial plan. Other times, you’ll find out that a simple adjustment might put you in a safer place. I have visited with many people with plans that, in the past, were working perfectly for them, but the changing economy had started to negatively affect their financial situation. With our help, they were able to make changes and adjustments to protect their money in these rough economic times.
We feel that regular reviews with our clients are important to their financial standing. Many of our clients find that their financial situation hasn’t been affected by the changing economy. Other clients have, with our help, been able to change their plans before it was too late. That’s why I meet with them often so we can make those changes.
If you are interested in a free consultation (second opinion), feel free to give us a call at (435)773-9444 and schedule your financial oil change. Let me get to know you and learn what your financial hopes and dreams are.